[magithighs]

I would tend to disagree about cold calling with small pairs. It was one of my most common mistakes in the old days when I was playing .5/1 on Paradise. I found cold calling with small pairs <5 was a money pit. Same situtation -- lots of bad players + lots of cold callers + lots of players playing badly post flop. It was still too much to overcome. Perhaps it was my lack of skill at the time. However, there were way too many players going for the "low" with low suited connecters and everyone with a pocket pair calling -- causing reverse implied odds as you're always making bottom set and paying off top set handsomely.

I too have noticed the same thing about my local game (20/40) with many seemingly winning players winning and cold calling. However, the more I observe them the more I see them losing.

What I have noticed is profitable is cold calling two-bets (max) with at least four players in the pot is suited connectors and one gappers down to 75 only on the button or cutoff. However, I'm still experimenting and don't know if this is trully profitable for me. I've always liked suited aces in Middle position, but won't call two bets cold with them -- but I will limp knowing that the pot will likley get raised. That still works for me.

Cheers
Magi